Article-7 of the Agreement contains modalities of tariff reduction under TLP, which are as follows:- No tariff reduction on items in the Sensitive Lis
{"Image DocumentName": "South Asian Free Trade Area (SAFTA)", "Image ImageDescription": "Article-7 of the Agreement contains modalities of tariff reduction under TLP, which are as follows:- No tariff reduction on items in the Sensitive List. Non-LDCs (Pakistan, India, Sri Lanka) shall reduce tariff to 0-5% for LDCs (Bangladesh, Bhutan, Nepal, Maldives) within three years (2009) Tariff Reduction by Non-LDCs for Non-LDCs Reduction in two phases: Phase-I ( ) Existing tariff rates above 20% to be reduced to 20% within two years Tariff below 20% to be reduced on margin of preference basis of 10% per year. Phase-II ( ) Tariff to be reduced to 0-5% within 5 years. Tariff Reduction by LDCs for all SAARC Members Reduction in two phases: Phase-I ( ) Existing tariff rates above 30% to be reduced to 30% within two years Tariff below 30% to be reduced on margin of preference basis of 5% per year. Phase-II ( ) Tariff to be reduced to 0-5% within 8 years.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}